The board held a public hearing to receive comment on the division Tuesday night, although only a handful of people participated.
The aldermen have stipulated that when dividing the lots, a 30-foot easement for a greenway must be installed. Town officials have said they eventually want to build a greenway in the area along Morgan Creek for walking, running or biking.
The greenway would be similar to Bolin Creek Trail, a greenway in Chapel Hill.
"Carrboro really wants the greenway, but they don't have any money," said developer Sammy Martin, who for the past three years has helped submit the application with the owner of the property, Walter McFall.
"They don't have any plans for this in terms of organization and structuring it," Martin said. "They just want the greenway."
Martin said the greenway would stop about 150 feet from McFall's house.
McFall raised concerns about the increased traffic a greenway would produce and about people who might abuse the land.
"I want it pristine," he said. "I want to make sure we've got somebody to take care of (the property) like I would if I didn't give it to you."
Alderman Alex Zaffron assured McFall that Carrboro would be liable for any damage done to the property and that any maintenance would become the town's responsibility.